Facebook is Dead; Long Live Meta

In this podcast episode, Ben Thompson analyzes Meta's recent financial performance, highlighting a significant revenue growth driven by its advertising business and AI investments. He contrasts Meta's current success with its struggles in 2021-2022 when Metaverse investments and a slowing core business led to investor concerns. Thompson emphasizes that Meta has learned the importance of delivering short-term results to gain investor confidence for long-term AI projects. He discusses how improvements in AI-powered ad systems and increased engagement with Reels have boosted ad revenue. Thompson also notes a shift in Meta's mission from connecting people to empowering individuals, reflecting a broader industry trend towards personalized content. He concludes that Meta's adaptation to competitive pressures, particularly from TikTok, has solidified its position and justified investor confidence.